Hines acquires South Temple Tower as first office-to-residential conversion

Hines has acquired South Temple Tower in Salt Lake City.

Serving as its first office-to-residential conversion, Hines plans to embark on the transformation of a 217,000-square-foot office building into a 255-unit luxury multifamily tower. With construction set to begin in first quarter 2023, this renovation will include the complete removal of existing office spaces and repurposing the building for high-quality residential living at a time when the Salt Lake City market needs housing.

To achieve this conversion, Hines will strip the existing office building to its core and shell and repurpose the building structure to create an efficient residential floor plan. South Temple Tower met the requirements needed for a successful conversion process, including walkability, natural light, shape of the building, number of potential units and overall floor plan.

The 24-story multifamily tower will feature studios, and one- and two-bedroom homes, paired with high-quality i